LA Noire studio on brink of bankruptcy

Team Bondi faces complete liquidation

The house that built L.A. Noire may soon be shuttered for good, as the Sydney developer Team Bondi has officially entered administration. Filed with the Australian Securities & Investments Commission yesterday, the drastic action has left the studio with the unenviable task of attracting a (very) last minute buyer, or else be picked apart to death in order to pay its creditors.

Team Bondi has been battling allegations of employee mistreatmentfor months now, culminating in its unamicable split with Rockstar, and the slow but steady liquidation of its assets. It was rumoured KMM, the film studio behind Mad Max and Happy Feet, was stepping in to save the embattled studio with purchase of undisclosed assets, however the details of said dealings have not been made clear. KMM has, however, made a new home for a number of Team Bondi employees, including former studio head Brendan McNamara.

The studio's first step towards bankruptcy also paints a grim future for its sister company Depth Analysis, the tech outfit which created the facial scanning animation technology featured in L.A. Noire. Of course, there's very little chance of L.A. Noire not receiving a sequel, so it's safe to assume someone will be knocking on their door eventually (if they aren't already moving into KMM's office as we speak).